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Message: APG- anyone holding or watching?
I just read LexCorps update on APG (I will paste below). Then I had a look at the chart, and to me (a novice) it looks like the right time to buy. It looks like the sell-off has ended and looking to bounce. I am going to look deeper at the fundy's (always do, but I now realize sometimes not even worth my time), but wondering if anyone else is watching and has any comments. Thanks
LexCorp Buys APG-Apollo Gold - Cheap Gold Producer and Growing
I took a position in Apollo Gold Today. The stock is close to a 52wk. low and I believe their is very little downside from here. The stock has taken a hit due to the deal/merger it made to acquire Linear Gold. Investors sold off due to the dilution,...but longer term I believe it's a good deal for investors. By 2013 APG will be a 170,000oz ++ gold producer. Upon completion of the Merger, the New Company will have the following compelling characteristics:
Deal Highlights
- A strong production profile with significant development potential; - 2010 estimated gold production at Apollo’s Black Fox Mine in the Timmins Mining District,
Ontario, of approximately 100,000 ounces; - Additional expected production of approximately 70,000 ounces of gold per year beginning in
2013 from the Box deposit at Linear’s Goldfields Project in northern Saskatchewan;
- Total reserves of approximately 2.3 million ounces of gold in Canada;
- Excellent exploration potential within highly prospective land packages in multiple jurisdictions;
- A strengthened balance sheet with a lower debt burden and improved financial flexibility with
cash and cash flows available for continued exploration and development, solidifying the company’s capital structure to support future growth; and
- A strong management team with complementary experience in exploration, development,
operations, and financing.
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